ARTICLE | Deals
Amgen sees Tavneos as growth opportunity with $4B ChemoCentryx buyout
With patent expirations ahead, deal gives Amgen immunology asset approved for vasculitis indication, with potential for label expansions
August 4, 2022 10:34 PM UTC
Amgen believes its commercial team can quicken uptake of vasculitis drug Tavneos now that the company has a $4 billion deal in place to acquire ChemoCentryx, the biotech that gained its approval last fall.
Amgen Inc. (NASDAQ:AMGN) will pay $52 per share, more than twice the value at Wednesday’s close of ChemoCentryx Inc. (NASDAQ:CCXI), to bring the biotech’s 25-year history as a stand-alone company to a close. The price is 23% higher than ChemoCentryx’s 52-week high of $42.16 in October, before shares surged above that mark Thursday...